atans1

Will resale flat owners still vote for PAP in next GE? contd

In Property, Public Administration on 04/01/2019 at 1:05 pm

Last yr, private home prices rose nearly 8%* while prices of resale flats fell 0.9%**. (Related post: Why S’pore is so shiok for private property investors)

How to get huge mandate for 4G leaders remembering that one of them, Lawrence Wong*** (Btw, he not from elite school or so-called elite school), is being blamed by alt media (and more importantly by many S’poreans) for being responsible for the collapse in the prices of older flats?

Resale value of older flats has been sliding down ever since National Development Minister Lawrence Wong let the cat out of the bag in Mar 2017 by disclosing that not all old HDB flats are eligible for SER. He added that for most HDB flats, their leases will eventually run out and the flats returned to HDB, which in turn surrenders the land the flats are on back to the State. In other words, the value of the flats will go to zero when their lease ends.

TOC****

Will this resale flat buyer vote for PAP in next GE?

Will resale flat owners still vote for PAP in next GE?

“Houses are for living in, not for speculation”

Exposed: Flaws in PM’s HDB spin

Big problem for PAP. So why is it a surprise in an election yr that Budget is earlier than usual? Really good goodies to try to help us forget that after GE, GST will go up by 2 points as promised.

One can only hope that TOC and other alt media will keep reminding voters of this fact and stop propagating fake news: Why TOC’s Danisha Hakeem is a menace to the credibility of alt media. But don’t hold yr breath.


*Private home prices in Singapore rose 7.9 per cent in 2018, compared with a 1.1 per cent rise the year before, according to flash estimates from the Urban Redevelopment Authority (URA) on Wednesday (Jan 2).

However, the rise appeared to have slowed significantly after the Government introduced more measures in July to cool the red-hot market.

Private home prices slowed to a 0.5 per cent increase in the third quarter of 2018, and fell 0.1 per cent in the fourth quarter, URA’s estimates showed.

URA resale prices graph
Source: URA

Read more at https://www.channelnewsasia.com/news/singapore/private-home-prices-property-2018-ura-11078890

**Prices of resale flats in Singapore fell 0.9 per cent in 2018 compared to the year before, flash estimates released by the Housing and Development Board (HDB) on Wednesday (Jan 2) showed.

In the fourth quarter of 2018 alone, prices fell an estimated 0.2 per cent, according to HDB’s resale price index.

****TOC

[A]ccording to PropertyGuru, housing agents have been trying to sell 5-room units in block 30 at Jalan Bahagia for close to $600K:

But the value of the units transacted at this block has been observed to be sliding down rapidly in the last few years.

Data on PropertyGuru shows that units at the block were indeed transacting at $500 to $600K from 2014 to mid-2016. But the last 2 transactions which occurred in Mar 2018, however, shows that one was sold at $403,000 while the other at $322,888.

 

 

 

 

 

 

  1. Damn, looks like I better get rid of my last rental condo! Hahaha!

    Ehhh don’t diss Larry’s school leh … I also from there…

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